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U.S. citizens and residents who are officers, directors or shareholders in certain foreign corporations must file Form 5471 as part of their expat tax return. This form is officially called the Information Return of U.S. Persons with Respect to Certain Foreign Corporations.
To put it simply, any US citizen, corporation, partnership, trust, or estate who has at least 10% ownership of a foreign corporation, is generally required to file Form 5471 at least once, any many have to file Form 5471 every year.
U.S. citizens and U.S. residents who are officers, directors, or shareholders in certain foreign corporations are responsible for filing Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations.
Form 5471 is the \u201cInformation Return of U.S. Persons With Respect to Certain Foreign Corporations,\u201d whereas Form 5472 is the Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business.\u201d
Who files Form 5472? Who has to file? A U.S. corporation with 25% or more foreign ownership, or foreign corporations that do business or trade in the U.S. are required to file IRS Form 5472. You must report the existence of all related parties in Form 5472 as well, and fill out a separate form for each foreign owner.
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U.S. citizens and residents who are officers, directors or shareholders in certain foreign corporations must file Form 5471 as part of their expat tax return. This form is officially called the Information Return of U.S. Persons with Respect to Certain Foreign Corporations.
The Form 5471 is due to be filed at the same time the taxpayer files their tax return. If a taxpayer requires an extension of filing Form 5471, then they would file an extension on Form 4868 for their regular tax return and then the 5471 will go on extension as well.
Form 5471, officially called the Information Return of U.S. Persons with Respect to Certain Foreign Corporations, is an information return (as opposed to a tax return) for certain U.S. taxpayers with an interest in certain foreign corporations.
The Form 5471 is due to be filed at the same time the taxpayer files their tax return. If a taxpayer requires an extension of filing Form 5471, then they would file an extension on Form 4868 for their regular tax return and then the 5471 will go on extension as well.
At this time, we only support the creation and electronic filing of one Form 5471. If the return requires multiple copies of the form, the only option is to manually complete the additional copies and attach them to the return. You would then need to paper file the return.

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